.2 minutes read Last Upgraded: Sep 11 2024|12:14 AM IST.Digital loan system FlexiLoans has actually raised Rs 290 crore in Series C backing coming from global as well as domestic real estate investors, featuring Nandan Nilekani co-founded Fundamentum, Accion, a US-based non-profit company, Nuveen, and existing real estate investor Maj Invest.FlexiLoans, which provides to business through a cash money flow-based finance model, are going to use the fresh resources to expand its procedures, improve its own product offerings, and also enhance its own technological facilities, the provider claimed in a release.The new financing will certainly assist the company grow its own properties under administration (AUM) coming from Rs 2,000 crore presently to Rs 3,500 crore. To day, FlexiLoans has actually disbursed over Rs 7,000 crore in car loans throughout much more than 2,100 communities and also urban areas.." While as an NBFC our team will maintain elevating funds as and when needed, this financing needs to do our team to grow to Rs 3,500 crore in AUM," stated Deepak Jain, co-founder, FlexiLoans.The organization is actually targeting to pay out around Rs 5,000 crore in lendings in FY25.In the next 3-4 years, the provider may try to go public, Jain claimed. "Our experts intend to perform it at the correct time when our team attacked the right dimension and also range," he mentioned, including that the business has been profitable for the last 3 years and is targeting double-digit earnings in the present financial year and triple-digit profits in the following financial year." Our credit history price is around 3.3 per cent as of the June fourth. Our company have constantly remained sub-5 per cent as for credit rating costs are regarded," he stated.Unitus Funding acted as the unique specialist to the purchase.Heretofore around, the company raised capital from Sanjay and also Falguni Nayar, Maj Invest, Fasanara Funding, along with other famous loved ones workplaces.First Posted: Sep 11 2024|12:14 AM IST.